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European stocks rose in early action on Thursday, getting a boost after a leading Republican offered a way to temporarily get past a looming deadline for the U.S. debt ceiling to be raised.
Senate Minority Leader Mitch McConnell said his party would not filibuster a short-term debt-limit extension, an offer several Democrats said they would take. The process is still likely to result in another showdown in December, but for now, it doesn’t look like the world’s largest economy will default on its obligations.
The Stoxx Europe 600
SXXP,
rose 0.9% to 455.56.
Gainers included Spanish utility Iberdrola
IBE,
, technology investor Prosus
PRX,
and luxury-goods producer Kering
KER,
Prosus was buoyed by the rally in Tencent
700,
the Chinese tech giant in which holds a stake. The Hang Seng
HSI,
surged nearly 3%.
Of the major regional indexes, the German DAX
DAX,
surged 1.1%, the French CAC 40
PX1,
surged 1.1% and the U.K. FTSE 100
UKX,
increased 1%.
Futures on the S&P 500
ES00,
increased 0.6%, after a rise for the S&P 500
SPX,
on Wednesday.
